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Achche din for MBAs? 8 job sectors that will employ you this year

June 06, 2014 11:54 IST

Achche din for MBAs? 8 job sectors that will employ you this year

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According to the latest GMAC survey, technology, manufacturing and healthcare will provide the maximum jobs in 2014.

A global student exit survey taken by the Graduate Management Admission Council -- the education organisation of leading graduate business schools and owner of the Graduate Management Admission Test (GMAT exam) -- has revealed a list of sectors that will provide maximum jobs for management graduates in 2014.

GMAC conducted the nationwide survey between February and March this year among 3,049 business school graduates at 111 universities on behalf of graduate business and management programmes worldwide.

"This snapshot of the early job market for business school graduates demonstrates that graduate business degrees are useful in a wide variety of careers. While demand remains strong among traditional industries, business school graduates shouldn't overlook alternative sectors, which are actively seeking MBA and other business school talent," said Gregg Schoenfeld, GMAC survey research director.

The 15th annual Global Management Education Graduate Survey looks at how business school graduates view their programmes and offers a snapshot of their early job search and career intentions.

According to the survey, a total of 62 percent of the graduating students were involved in a job search, and another four percent were either self-employed or intending to pursue entrepreneurship at graduation. 

Although salaries varied widely by industry, job level, and work location, the median increase in salary of those with job offers was 80 per cent over their pre-degree salary.

That’s up from the 73 per cent increase reported by business school graduates with early job offers in 2013.

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Image: Technology, manufacturing and healthcare will provide maximum jobs to the MBA class of 2014
Photographs: Krishnendu Haldar/Reuters

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Technology

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According to the survey, technology is emerging as a promising sector for business school graduates.

Among the respondents who participated in the survey, 61 per cent seeking jobs in the tech industry had job offers.

In 2010, just 9 per cent of students with early offers were in the technology industry.

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Image: 61 percent seeking jobs in the tech industry had already received a job offer.
Photographs: Paul Vreeker/Reuters
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Manufacturing and healthcare

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Manufacturing and healthcare/pharmaceuticals may be the undiscovered beaches of the business school job market.

Although they account for just seven per cent and five per cent, respectively, of the students with early offers, students aspiring for a job in these sectors had the greatest success rate, with 74 per cent reporting at least one offer.

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Image: Healthcare and manufacturing also reported a higher success rate in employing graduates.
Photographs: Paul Vreeker/Reuters
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Consulting

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Consulting is the most popular field for career-switchers, as 27 per cent of all career-switching graduates with job offers were in consulting.

Among all job seekers, 21 per cent of those with job offers are in consulting, on par with 2010 (20 per cent).

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Image: For those who wanted to switch careers, consulting turns out to be a lucrative option.
Photographs: Reuters
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Finance/accounting

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Finance/accounting is the top sector for graduates with job offers who are not switching industries after graduation.

Twenty-six per cent of all those with job offers were in this sector, slightly higher than last year (24 per cent) but still lower than in 2010 (30 per cent).

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Image: Finance emerged as one of the reliable job sectors for MBAs.
Photographs: Rediff Archives
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Energy and utilities

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Energy and utilities provided for eighteen per cent of early job offers.

The success rate among aspirants looking for a job in this sector stood at a healthy 52 per cent.

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Image: The success rate of those looking for a job in the energy and utilities sector is more than 50 per cent.
Photographs: Reuters
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Government/non-profit

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Government/non-profit remains a steady sector for business graduates, accounting for five percent of the graduates' early job offers.

Some 62 per cent of those seeking jobs in government/non-profit had early offers, about the same as last year and five years before.

"The job market for business school graduates has rebounded nicely since 2010, and employers in all sectors recognise they need the business skills and acumen these graduates bring," Schoenfeld said.

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Image: Government and non profit organisations also provided for 62 per cent of early job offers.
Photographs: Reuters

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